TomsJo

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Bankruptcy What not to do?!
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Introduction

• Bankruptcy is a legal process, through which a
  person or other entities seek relief from some or
  all of the debts when they couldnt repay it!
• Before filing bankruptcy you have to double-check
  whether you need this or not! The following are a
  few issues you have to consider before going for
  a bankruptcy proposal!

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Don't rush

• You can only receive a bankruptcy discharge
• Once in an 8 years
• or Six years after filing a chapter 13
  bankruptcy!

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2. Never empty your retirement fund

• You can ensure most retirement assets in
  insolvency. Accordingly, one of the financial
  decisions that individuals consistently make
  before petitioning for financial protection is
  pulling back retirement assets to take care of
  obligation that chapter 11 could clear out

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3. Be honest on your information

• Never produce dishonest or incorrect information.
  You're required to give under punishment of
  prevarication complete and precise data pretty
  much the entirety of your benefits, obligation,
  salary, costs and money related history. If you
  purposely misrepresent your information, you
  could be dependent upon criminal punishments and
  penalty!

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4. Don't make new debts

• If you added to new debts during the 70 to 90
  days before declaring financial insolvency, be
  careful, the leaser may protest your release by
  contending that you took out the advance with no
  goal of taking care of it!

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5. Don't move assets and never selectively repay
loans

• Don't hide or try to transfer your assets before
  filing bankruptcy! Also, avoid repaying only a
  few loans selectively!

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6.Never fail to file income tax

• In case you should document charges, be that as
  it may, yet haven't done as such for the two
  years before seeking financial protection, you'll
  run into issues. So don't fail to file income tax
  returns!
• In case if you already did any of the
  above-listed mistakes, immediately consult a
  bankruptcy expert attorney!

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REFERENCE

• https//sites.google.com/view/bankruptcy-ca/home?a
  uthuser2

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THANK YOU!!